Based in CodeBase Edinburgh and established in 2010, Float is a revenue generating, growing fintech start-up who are filling a much-needed void in the SME market for cash flow management and forecasting software. With customers in more than 40 countries, Float’s software-as-a-service (SaaS) product plugs into cloud-based accounting software such as Xero, FreeAgent and QuickBooks Online to help produce and maintain a cash flow forecast. Traditionally, large corporate businesses were the only types of organisations who could afford the luxury of financial planning and ensuring that profitability and cash flow were forecasted ahead of time. Thanks to Float this is now something that will be available to SMEs, allowing them to run smarter, leaner and more profitable businesses at an affordable price.
Float employs 19 people and recently raised angel investment to scale up. As part of this growth, the role of Chief Operating Officer (COO) has been identified as a key role required to guide the business into the future from a commercial, strategic and operational perspective.
From a growth and income perspective, Float is targeting £1m ARR by the end 2018, and £5m by end 2020 and are anticipating a team of 30+ over this timeline. The COO role will be instrumental to this growth and will be a key decision maker for the business along the way.
Background to the Current Opportunity
The company is now looking to recruit a high calibre COO to be based at their office in CodeBase, Edinburgh City Centre. The successful candidate will report directly to and work closely with the CEO, alongside the CCO and CTO, having a key oversight of the business on a daily basis with a direct focus on financial strategy and establishing the operational processes required to deliver extensive and sustainable growth. In addition to the oversight of Finance, systems & process and the budgeting & reporting cycles, the COO will also be responsible for HR, Legal, Facilities Management and have line management responsibility of the Operations Manager.
This is a highly exciting and much sought-after role in arguably one of the most interesting sectors in Scotland. It is vital for Float that the candidate not only matches the key attributes from a skills perspective, but also matches their ambitions to grow the business in line with their values and culture:
While at Float, you’ll likely exist as part of a departmental team, but we don’t like silos and aim to collaborate cross-departmentally as much as possible. We see this as more than teamwork; building a healthy team is one of our key measures of success, so we work hard to create an inclusive environment and a sense of camaraderie. We enjoy each other’s company and want do everything we can to help our team mates succeed (even when that means challenging them). We’re a close team, we work hard but have fun and we want that to continue as we scale.
We love to learn and having a growth mindset is important. We’re driven to dig deep into understanding problems and be creative about finding solutions. We want to give everybody the space to have autonomy over their personal development and seek to provide mentoring and support to achieve these goals. As one team, we’re also curious about understanding the whole business, each other’s roles and how we relate to each other. As well as being experts in our own fields, we understand the wider context and how our work impacts others.
We allow ourselves to have opinions, but want to be open-minded to all possibilities, so will also actively seek out other perspectives and opinions. We make better decisions when we challenge each other constructively. Being part of one team and working closely together means we build relationships that allow us to supportively challenge each other; we hold each other accountable. Blame isn’t constructive and we see recovery as a team effort, which means we trust that we can be vulnerable and admit when we’re wrong.
Preferred Candidate Background
The role of Chief Operating Officer is an integral part of the team and will be a direct support to the CEO as well as working closely with the CCO and CTO. The role will support the growth of the company with robust and effective management reporting, systems and processes with an oversight of wider business functions including HR, Legal and Facilities Management. The COO will be involved in the commercial development of the business supporting the CTO and CCO in engagement with clients and investors and will support the wider business from a governance, risk and controls perspective.
The role represents an excellent opportunity for a motivated finance leader who wants to work for a business that are in a very exciting stage of their evolution. In addition, the company will provide a firm career platform with good opportunity for personal and professional development.
It is likely that the individual will be operating at a senior leadership level with an oversight of multiple areas of a business. This could also include a background within finance, however would also be suitable for someone coming from more of an operations perspective. They will be comfortable working in a demanding environment and can develop, implement and manage effective changes across the business. It will be essential that the successful candidate can provide significant support to the CEO whilst overseeing the company’s financial and wider business functions.
Above all, it is critical that the person will fit well with the Float’s company ethos and values and is happy to get involved in a number of initiatives or tasks that may not necessarily be written in a job description.
A summary of the key candidate requirements are as follows:
- A strong academic record and business acumen, particularly around finance and general business qualifications such as MBA or equivalent.
- Team player with an enthusiastic, positive can-do attitude with the gravitas to lead, inspire, influence and innovate
- Growth mindset and desire to achieve
- Demonstrable competency in strategic planning/business development and proven experience in an advisory or strategic leadership role
- Strong experience in implementing systems, processes, procedures and operational KPIs
- Track record of developing and nurturing talent within teams
- Able to meet deadlines and work under pressure
- Working knowledge of data analysis and performance/operation metrics, including SaaS metrics
- Strong self-awareness with a high level of emotional intelligence and interpersonal skills
- Self-starter, tenacious and inquisitive – uses initiative to identify opportunities and solve problems
The challenge of the COO role will be to navigate between strategy and detail, to bring
passion to the role and to add strategic value across the business.
The successful candidate will need to be able to cope with uncertainty and add credibility through clear communication to Board and leadership team.
Reporting directly to the CEO, the successful candidate will be responsible for the following:
- Co-designing and implementing strategy, plans, operations and procedures
- Setting KPIs for performance and growth throughout the business
- Establishing activities to promote company culture and vision
- Overseeing daily operations of the company and the work of the team (IT, HR,
- Finance, Legal etc.)
- Evaluate performance by analysing and interpreting data and metrics
- Write and submit reports to the CEO and Board as required
- Assist the CEO in fundraising ventures when required
- Participate in expansion activities (investments, acquisitions, corporate alliances,
- office moves etc.)
Salary: Highly competitive salary + share options
Additional Benefits: Employer pension matched up to 5% contribution
Annual Leave: 34 days inclusive of public holidays
All applications should be sent to our retained advisor, Daryl Harper, iMultiply, at firstname.lastname@example.org
Please note any direct or third-party applications will be sent to iMultiply for review and assessment.